Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,933 shares of the information services provider’s stock after selling 145 shares during the period. Alphabet makes up 3.4% of Renaissance Investment Group LLC’s portfolio, making the stock its 8th largest position. Renaissance Investment Group LLC’s holdings in Alphabet were worth $16,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Tributary Capital Management LLC bought a new stake in Alphabet in the 1st quarter valued at $30,000. Kings Path Partners LLC bought a new stake in Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC bought a new stake in Alphabet in the 2nd quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.4 %

Shares of GOOGL opened at $164.07 on Tuesday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a market cap of $2.03 trillion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm’s 50-day simple moving average is $161.80 and its 200 day simple moving average is $168.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the business earned $1.44 EPS. On average, analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on GOOGL. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Evercore ISI cut their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. BMO Capital Markets cut their price objective on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler reissued an “overweight” rating and set a $200.00 price target on shares of Alphabet in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at $362,126,319.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock worth $35,993,340. Insiders own 11.55% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.